Engineering Insurance

The basic concept of Engineering Insurance is to provide comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant and equipment and construction machinery as well as third party in respect of property damage or bodily injury arising in connection with the execution of a building project.



 

SOLAR PROJECTS:

Design, erection, testing and commissioning and operations of the Solar Project facility .

COVERAGE: SECTION 1:    MARINE CARGO

Project Cargo materials, machinery, equipment and supplies required for the construction of the Project whilst in transit which is or will be the property of the Insured and / or in the care, custody or control of the Insured and / or for which they are responsible and as more fully defined in the wording.  Indemnity provided includes transit of materials, machinery, equipment and supplies back to suppliers and / or manufacturers for repair in the event of an Insured loss and return transit of repaired / replacement materials, machinery, equipment and supplies to the Site.

SECTION 2:   MARINE DELAY IN START UP

Loss of Revenue and / or Increased Cost of Working caused  by Damage indemnifiable under Section 1 (‘Marine Cargo’) resulting in a Delay and as more fully defined in the wording.

SECTION 3:    ERECTION ALL RISKS

The permanent and temporary works, plant and equipment and materials incorporated or for incorporation into the Project; the property forming, or to form the temporary works or the Site Facilities that are used or intended for use in connection with the Project; and any other property for which the Insured is responsible that is used or is intended for use in connection with the Project, all as more fully defined in the wording.

Contractors’ Plant and Equipment covered herein only if specifically scheduled under the Information section of the Risk Details.

SECTION 4:   DELAY IN START-UP

Loss of Revenue and / or Increased Cost of Working caused  by Damage indemnifiable under Section 3 (‘Erection All Risks’) resulting in a Delay and as more fully defined in the wording.

SECTION 5: OPERATIONAL ALL RISKS

Property Insured for the purposes of the Commercial Operation of the Project which is property of the Insured or for which the Insured is responsible or contractually obliged to insure and as more fully defined in the wording.

 

SECTION 6:          BUSINESS INTERRUPTION

Loss of Revenue and / or Increased Cost of Working caused  by Damage indemnifiable under Section 5 (‘Operational All Risks’) resulting in an Interruption and as more fully defined in the attached wording.

 

SECTION 7A:        ERECTION ALL RISKS THIRD PARTY LIABILITY

The Insured’s legally liable to pay in respect of any responsibility, claim, damages and/or expenses or any other loss arising from Bodily Injury, Property Damage and /or interference to property happening during the Period of Insurance and as as more fully defined in the wording.

SECTION 7B:        OPERATIONAL ALL RISKS THIRD PARTY LIABILITY

The Insured’s legally liable to pay in respect of any responsibility, claim, damages and/or expenses or any other loss arising from Bodily Injury, Property Damage and /or interference to property happening during the Period of Insurance and  as more fully defined in the wording.

WIND PROJECTS: Design, erection, testing and commissioning and operations of the wind farm facility .

Section 1:          Marine Cargo

Project Cargo materials, machinery, equipment and supplies required for the construction of the Project whilst in transit which is or will be the property of the Original Insured and / or in the care, custody or control of the Original Insured and / or for which they are responsible and as more fully defined in the attached wording.  Indemnity provided includes transit of materials, machinery, equipment and supplies back to suppliers and / or manufacturers for repair in the event of an insured loss and return transit of repaired / replacement materials, machinery, equipment and supplies to the Site.

Section 2:     Marine Delay in Start-Up

Loss of Revenue and Increased Cost of Working caused by Damage indemnifiable under Section 1 (‘Marine Cargo’) resulting in a Delay and as more fully defined in the wording.

Section 3:     Erection All Risks

The permanent and temporary works, plant (excluding cranes) and equipment and materials incorporated or for incorporation into the Project; the property forming, or to form the temporary works or the Site Facilities that are used or intended for use in connection with the Project; and any other property for which the Insured is responsible that is used or is intended for use in connection with the Project, all as more fully defined in the wording.

Contractors’ Plant and Equipment covered herein only if specifically scheduled under the Information section of the Risk Details.

Section 4:     Delay in Start-Up

Loss of Revenue and Increased Cost of Working caused by Damage indemnifiable under Section 3 (‘Erection All Risks’) resulting in a Delay and as more fully defined in the wording.

Section 5:     Operational All Risks

Property Insured for the purposes of the Commercial Operation of the Project which is the property of the Original Insured or for which the Original Insured is responsible or contractually obliged to insure and as more fully defined in the wording.

Section 6:     Business Interruption

Loss of Revenue and Increased Cost of Working caused by Damage indemnifiable under Section 5 (‘Operational All Risks’) resulting in an Interruption and as more fully defined in the wording.

Section 7A:    Erection All Risks Third Party Liability

The Original Insured’s legal liability to pay in respect of any responsibility, claim, damages and / or expenses or any other loss arising from Bodily Injury, Property Damage and / or interference to property happening during the Period of Insurance and as more fully defined in the wording.

Section 7B:    Operational All Risks Third Party Liability

The Insured’s legal liability to pay in respect of any responsibility, claim, damages and / or expenses or any other loss arising from Bodily Injury, Property Damage and / or interference to property happening during the Period of Insurance and as more fully defined in the wording.